Chevy Malibu Insurance Cost – 2023 Average Rates + Rankings

• Chevy Malibu insurance rates cost an average of $1,716 per year, $858 for a 6-month policy, or $143 per month for a full coverage car insurance policy.
• The Malibu ranks fourth out of 11 vehicles in the midsize car class for car insurance affordability.
• Drivers can find the cheapest insurance on the Malibu LS Sedan trim level at $1,660 per year.
• Removing physical damage coverage on an older Chevrolet Malibu may save as much as $640 per year, depending on the level of physical damage deductibles and the age of the driver.

How much does Chevy Malibu car insurance cost?

Plan on budgeting an average of $1,716 a year to insure a Chevrolet Malibu for full coverage, or around $143 a month. Collision coverage is around $646 a year, liability and medical coverage will cost an estimated $652, and the remaining comprehensive will cost around $418.

The following chart demonstrates how average Chevy Malibu car insurance rates fluctuate based on the age of the rated driver and insurance policy deductibles.

In order to help you comprehend the full range of possible rates, think about the fact that buying a liability-only policy in some parts of Vermont or Wisconsin may cost as little as $204 a year, while a driver in some zip codes in Detroit, MI, may have to pay as much as $4,002 a year for a policy that provides full coverage.

Some additional noteworthy insights as they relate to Chevy Malibu insurance rates include:

• It’s expensive to buy high-risk insurance. For a 30-year-old driver, having too many driving record violations or accidents can cause a rate increase of $2,068 or more per year.
• Increasing deductibles lowers insurance cost. Raising the comprehensive and collision deductibles from $500 to $1,000 could save around $242 per year for a 40-year-old driver and $466 per year for a 20-year-old driver.
• The lower deductible you choose, the higher the policy cost. Dropping your physical damage deductibles from $500 to $250 could cost an additional $250 per year for a 40-year-old driver and $486 per year for a 20-year-old driver.
• Malibu insurance rates for teens are expensive. Average rates for full coverage Malibu insurance costs $6,242 per year for a 16-year-old driver, $5,784 per year for a 17-year-old driver, and $5,386 per year for an 18-year-old driver.
• Obey the law to get lower rates. To pay the cheapest possible Malibu insurance rates, it pays to drive safely. Just a couple of traffic tickets have the consequences of increasing policy cost as much as $448 per year. Serious convictions such as hit-and-run, DUI, or reckless driving could raise rates by an additional $1,562 or more.
• Earn a discount from your profession. Many auto insurance companies offer discounts for specific occupations like architects, high school and elementary teachers, members of the military, accountants, lawyers, and other occupations. Having this discount applied to your policy may save between $51 and $178 on your yearly Malibu insurance premium.
• Driver gender influences rates. For a 2023 Chevrolet Malibu, a 20-year-old male will pay an average rate of $3,388 per year, while a 20-year-old female pays an average of $2,536, a difference of $852 per year. The females get much better rates. But by age 50, the male rate is $1,564 and the rate for females is $1,532, a difference of only $32.

Does Malibu insurance cost more than other midsize cars?

The Chevrolet Malibu ranks fourth out of 11 total vehicles in the 2023 midsize car segment. The Malibu costs an average of $1,716 per year for full coverage insurance, while the class average rate is $1,800 annually, a difference of $84 per year.

When compared to other midsize models, insurance for a Malibu costs $38 more per year than the Toyota Camry, $66 less than the Honda Accord, $166 less than the Nissan Altima, and $88 less than the Tesla Model 3.

The chart below shows how average Malibu car insurance rates compare to nine other midsize cars that together make up the top 10 selling models in America.

What is the cheapest Chevy Malibu car insurance?

The cheapest Chevy Malibu insurance can be found on the base LS Sedan trim (MSRP of $26,095) costing $1,660 per year and the RS Sedan trim (MSRP of $27,095) costing an average of $1,682.

Anticipate a monthly payment of around $138 to insure a Malibu for full coverage. This payment can vary significantly, however, based on the age of the driver, location, policy limits, and driving record.

The $32,595 2LT Sedan trim is the most expensive to insure, costing an average of $132 more per year than the cheapest LS Sedan model.

The rate table below shows the average insurance cost for a 2023 Malibu for different trim levels policy terms.

New vs. used Malibu car insurance pricing

The table below shows average Chevy Malibu car insurance rates for a range of driver age groups and Chevrolet Malibu model years. In this example, insurance costs range from the cheapest rate of $1,100 for a 60-year-old driver rated on a 2013 Chevrolet Malibu to the most expensive yearly cost for a 20-year-old driver rated on a new 2023 Malibu.

Sooner or later, you will need to decide when to delete physical damage coverage from the policy. As a vehicle loses value over time, the costs required to keep physical damage protection surpass the benefits provided by having it.

Deleting full coverage on an older Chevrolet Malibu may save the average driver $642 per year, depending on the level of physical damage deductibles and the driver age.

Average Chevy Malibu insurance prices by U.S. state

States like Maine ($1,034) and Iowa ($1,148) have cheaper Malibu insurance rates, while states like New York ($1,988), Louisiana ($2,044), and Michigan ($2,348) tend to be on the expensive side.

The table below shows annual, 6-month, and monthly average insurance rates for a 2023 Malibu in all fifty U.S. states.